So what’s New ?….It is well known that it’s either Monies of Indians lying undisclosed outside India or Indian Monies that are routed out of India through Havala that come back in as legitimate FII Investments through the rampant misuse of Participatory Notes…Diamond Dealers Network is used as they are easy facilitators

Who are the lenders to RNRL and Reliance Infra of these ECB/FCCB Funds ?…for all you know these too may just be routed funds….as there is RBI strictures on end use you cannot afford to link these funds directly to Stock Market Manipulation of Share Prices…so with bank connivance you take overdrafts and route those funds through PNs and FIIs

Remember how Lok Housing Collapsed from Rs 450 in January 2008 to fall below Rs 20…Check out earlier Blogs on Lok Housing…..In July 2008 we knew why this happened ……because Income Tax Authorities had been investigating it for Months and only disclosed the Income concealment of Rs 400 crs and tax evasion of Rs 100 crs in July 2008…those who knew beforehand of this Investigation surely misused this sensitive undisclosed news to make some inside money

Well….Share Prices of RNRL and Reliance Infra too have been demolished on the Stock Exchanges…Maybe SEBI could invetigate to try and establish a link between the sharp fall in Share Prices and the inside knowledge of such sensational news as the ED Investigation disclosed by ET today